Strategic Planning

Developing a strategic vision and action plan does not require a complicated process. It’s applying some basic principles to strategic issues and planning that many companies and organizations have articulated in their heads, but don’t know how to proceed. Using the steps below, the process looks at critical strategic planning issues and evaluates how these strategic issues fold into the strategic plan you want to develop. The process will allow for the determination of which issues are truly strategic and the development of goals to obtain the desired objective.

    • Strategic Planning Steps

      1. (1) Look at competitive advantage you are trying to achieve and the end result of developing
        and obtaining a strategic direction
      2. (2) Folding the strategic vision into the purpose of why the company exists
      3. (3) Trying to visualize the future. What do you want the business to look like 4-5 years in the future?
      4. Direction
      5. Business activities to be pursued
      6. Capabilities
      7. (4) Look at company’s strengths and weaknesses
      8. What do you do best
      9. Company resources, assets, intellectual capital, people
      10. What is happening externally that impacts the company
      11. What are important markets
      12. More global aspects that might impact company-i.e. unemployment, economy
      13. Competition
      14. (5) Objectives and goals
      15. Objectives set the strategic direction
      16. Goals that are measurable over a year time frame that help obtain the strategic direction
      17. (6) Assess Resources
      18. Time and money
      19. Do implementing objectives make financial sense
      20. Are resources in place to eventually meet strategic directions
      21. (7) Implementing tactics to achieve goals that drive strategic direction decisions
        1. Assigning tasks to responsible people—staff buy in to strategic direction
        2. Keep score on how well you’re doing
      22. (8) Holding management accountable to achieve strategic results
        1. Holding people assigned specific tasks responsible